Topic: DEX's KYC (Read 280 times)
That tier 1 is very simple, I don't even call that as KYC since you don't submit a document to prove your information for that.
Yes Tier 1 verification is simple but we are talking about DEX here and not CEX. I don't know if you even used DEX before like Etherdelta, Forkdelta, DDEX, and even Binance DEX, they don't ask for these information but you can already trade on their platform. That tier 1 is very simple, I don't even call that as KYC since you don't submit a document to prove your information for that.
Absolutely yes, only simple documents they need to register in IDEX which for me is suitable in my preferences, duly respect to KYC program of every exchange site which now is required to implement. 
That tier 1 is very simple, I don't even call that as KYC since you don't submit a document to prove your information for that.
Yan ang pinakapanget na nangyayari dito sa atin ngayon, nawawalan na ng saysay ang ipinaglalaban ni Satoshi na desentralisasyon. KYC sa decentralized exchanges ay hindi na matatawag na dex dahil centralized na ito at kailangan na ng KYC pero ang hirap din magsalita dahil baka kailangan nila itong gawin para sumunod sa batas.
That is right I hope KYC will not be mandatory because people want to protect their Identity . But we don't have choice to follow them but Im not using dex so I don't care about their rules about KYC and limit about withdrawing bitcoin.
Yan ang pinakapanget na nangyayari dito sa atin ngayon, nawawalan na ng saysay ang ipinaglalaban ni Satoshi na desentralisasyon. KYC sa decentralized exchanges ay hindi na matatawag na dex dahil centralized na ito at kailangan na ng KYC pero ang hirap din magsalita dahil baka kailangan nila itong gawin para sumunod sa batas.
Lol. Siguro dapat na nilang palitan ang pangalan ng exchange nila na ICEX dahil isa na syang sentralisasyon exchange. Hindi naimbento ang decentralized exchange para sumunod sa regulasyon ng gobyerno na sumunod sa KYC/AML. Gayunpaman, ito ay isa pa lamang ito sa mga decentralized exchange na sumunod sa batas. Abangan.ang iba pang mga susunod.
Maganda na rin to kesa wala. Tingin ko rin kasi wala na future mga DEx ngayon. Kasi the more you're against the government. The more problems you get. The more you comply, the lesser problems you get.
Maganda na rin to kesa wala. Tingin ko rin kasi wala na future mga DEx ngayon. Kasi the more you're against the government. The more problems you get. The more you comply, the lesser problems you get.
Obviously kapag ang isang exchange nagrerequire ng KYC, hindi siya pwedeng tawaging Decentralized Exchange kahit sabihin mong optional lang naman yung pagKYC diyan, non-sense na rin kung hindi ka magpapasa ng requirements kasi hindi mo rin magagamit platform nila.
That is what business means, everything turns out basta pera ang habol mo. Ang lakas rin naman pala nila na i-consider as platituide lang yung term ng decentralization eh since first naman hindi naman nagbabago yung definition niya at ganon talaga ang pagkakaintindi natin pagdating sa crypto. Baka nga hindi pala pinapasok yung business sa cryptocurrency, they dont know what is the meaning of that. Kaya nga wala akong katiwatiwala sa DEX since it always have smaller volume at laging bagsak yung market. Etherdelta lang talaga yung nag-exist na DEX na makatarungan pa yung value ng mga altcoins. Also, it's just a bait to some users kasi magagamit din nila yung personal informations for fraud. Kaya nga maraming pumasok sa crypto since isa sa maganda feature niya for having a anonymous trading.
The Word “Decentralized” is Just a Platitude
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That is what business means, everything turns out basta pera ang habol mo. Ang lakas rin naman pala nila na i-consider as platituide lang yung term ng decentralization eh since first naman hindi naman nagbabago yung definition niya at ganon talaga ang pagkakaintindi natin pagdating sa crypto. Baka nga hindi pala pinapasok yung business sa cryptocurrency, they dont know what is the meaning of that. Kaya nga wala akong katiwatiwala sa DEX since it always have smaller volume at laging bagsak yung market. Etherdelta lang talaga yung nag-exist na DEX na makatarungan pa yung value ng mga altcoins. Also, it's just a bait to some users kasi magagamit din nila yung personal informations for fraud. Kaya nga maraming pumasok sa crypto since isa sa maganda feature niya for having a anonymous trading.
As for now wala pa talagang truly decentralized exchange. Ginagamit lang ng mga exchange ung "DEX" na titolo pang hype and pang gain ng trust, kahit na mas nababagay na pangalan sa kanila e "non-custodial" exchange, dahil di naman sila "decentralized" in the first place.
I agree to the point na ginagamit lang ang "decentralized" para makakuha ng mga users. Naglabas nga din ng article ang IDEX similar sa iyong comment:
Quote
The Word “Decentralized” is Just a Platitude
A lot of great commentary has been written about the misuse of the word “decentralized.” The reality is that decentralization exists on a complicated, multi-faceted spectrum. However, many view the concept with absolutism. In turn, a degradation of discourse has arisen, making the word decentralized all but meaningless.
Instead of labeling something “centralized” or “decentralized,” the community should describe projects by their specific product attributes that arise due to some often-imprecise levels of decentralization. In the context of exchanges, decentralization can be used to create a platform that is:
Non-custodial — the exchange does not hold or manage any funds
Censorship resistant — no one person or individual can shut down the exchange or prevent others from using it
Transparent — open source and verifiable code
Auditable — all trades are written into the blockchain and history is retained into perpetuity
https://medium.com/idex/pragmatic-decentralization-how-idex-will-approach-industry-regulations-8b109212128aA lot of great commentary has been written about the misuse of the word “decentralized.” The reality is that decentralization exists on a complicated, multi-faceted spectrum. However, many view the concept with absolutism. In turn, a degradation of discourse has arisen, making the word decentralized all but meaningless.
Instead of labeling something “centralized” or “decentralized,” the community should describe projects by their specific product attributes that arise due to some often-imprecise levels of decentralization. In the context of exchanges, decentralization can be used to create a platform that is:
Non-custodial — the exchange does not hold or manage any funds
Censorship resistant — no one person or individual can shut down the exchange or prevent others from using it
Transparent — open source and verifiable code
Auditable — all trades are written into the blockchain and history is retained into perpetuity
Mas nakakatawa na pagkatapos nilang ilabas yung article na yan ay hindi pa din nila tinanggal yung DEX sa pangalan nila.
ang daming hindi sumang-ayon ng KYC sa IDEX, mukhang karamihan sa nagrereklamo yung mga malalaking investors o traders kasi kailangan mag verify sila sa tier 2. Kailangan na nga mapalitan ang kanilang pangalan na ICEX.
If they asking for any KYC sigurado ako hinde sya DEX, kase ang DEX doesn’t ask for any KYC talo pa nito ang mga kilalang exchange. Mas lalong walang magtatrade sa DEX dahil dito, konte na nga ang volume nila nag KYC pa. Anyway, nasasayo naman kung magpapasa ka or hinde pero kung ako ang tatanungin, i still go for no KYC exchange.
Siguro talaga kahit anong DEX ang lumabas eh magrerequire na talaga ng KYC, ito na ata ang regulation sa bawat bansa pero sana maging KYC free paren si Binance. Nakakataka lang at naging DEX sila pera nagrerequire ng KYC, sana kahit manlang level 1 free from KYC.
Ironic. "Decentralized EXchange". But requires KYC.
As for now wala pa talagang truly decentralized exchange. Ginagamit lang ng mga exchange ung "DEX" na titolo pang hype and pang gain ng trust, kahit na mas nababagay na pangalan sa kanila e "non-custodial" exchange, dahil di naman sila "decentralized" in the first place.
Decentralization: "is the process by which the activities of an organization, particularly those regarding planning and decision making, are distributed or delegated away from a central, authoritative location or group." - Wikipedia[1]
Automatically not fitting sa "DEXs" na meron tayo ngayon. The simple fact na napipilitan silang mag enforce ng KYC, means na may centralized authority parin na pwedeng ma-exploit; in this case, Aurora Labs.
[1] https://en.wikipedia.org/wiki/Decentralization
As for now wala pa talagang truly decentralized exchange. Ginagamit lang ng mga exchange ung "DEX" na titolo pang hype and pang gain ng trust, kahit na mas nababagay na pangalan sa kanila e "non-custodial" exchange, dahil di naman sila "decentralized" in the first place.
Decentralization: "is the process by which the activities of an organization, particularly those regarding planning and decision making, are distributed or delegated away from a central, authoritative location or group." - Wikipedia[1]
Automatically not fitting sa "DEXs" na meron tayo ngayon. The simple fact na napipilitan silang mag enforce ng KYC, means na may centralized authority parin na pwedeng ma-exploit; in this case, Aurora Labs.
[1] https://en.wikipedia.org/wiki/Decentralization
Pwede pa naman gamitin ang 1st tier kung ayaw nyo mag send ng real documents or KYC.
Tsaka iniimplement talaga ang KYC ngayon dahil sa SEC ni rerecommenda nila kung hindi kasi nila gagawin yon ipapasara ang exchange site.
Kaya wala tayong magagawa tignan mo yung mga ibang mixer jan pinasasara dahil walang KYC required pwera na lang sa ibang mixer dahil privately registered sila.
Tsaka iniimplement talaga ang KYC ngayon dahil sa SEC ni rerecommenda nila kung hindi kasi nila gagawin yon ipapasara ang exchange site.
Kaya wala tayong magagawa tignan mo yung mga ibang mixer jan pinasasara dahil walang KYC required pwera na lang sa ibang mixer dahil privately registered sila.
Pointless na para i-retain nila ang pangalang IDEX. Sayang talaga at isa pa naman sila sa mga nangungunang DEX. Malamang magbaback-out na sa kanila ang karamihan sa kanilang mga traders dahil dito. Syempre karamihan sa mga pumipili ng DEX ay yung mga umiiwas sa pagbibigay ng mga personal na impormasyon. Dahil sa nangyaring ito, may bagong DEX na naman ang uusbong.
So itong IDEX hindi na decentralized may KYC na e. Optional ba to or required? Tingin ko preparation lang to nila gaya ng sabi mo about sa regulation.
Pero itong Tier 1 parang ang dali e bypass kahit gawa2 lang na details, syempre yung iba takot mag bigay ng details for security and privacy.
Pero yung nalilist dito sa IDEX halos mga sh*tcoins
Pero itong Tier 1 parang ang dali e bypass kahit gawa2 lang na details, syempre yung iba takot mag bigay ng details for security and privacy.
Pero yung nalilist dito sa IDEX halos mga sh*tcoins
Dahil sa KYC system na iyan dikuna ito matatawag na decentralized sayang maganda pa naman ang volume trades sa site nila pero nag aalangan nakong magtrade sa kanila dahil sa kyc na ito patay ngayon ang mga whales jan pag nagkataon dapat taasan manlang nila ang withdraeal sa tier 1.
wala na tayong magawa sundin nalang natin ang bagong regulation nila, ok lang naman ako sa tier 1 hindi naman ako big whale na makaka withdraw ng $5k USD no need din naman yung ID, ewan ko nalang sa mga big whales jan na takot sa KYC baka hihina itong IDEX baka lilipat na ang mga malalaking traders.
In fairness naman sa IDEX, hindi sila ang naunang "DEX" na may KYC. May mas malala pa sa kanila, nakalimutan ko lang pangalan pero isang South Korean exchange yung may KYC bago ka pa makapag-deposit.
Hindi ka makaka-withdraw kapag walang tier1 or tier2 verification. Nakalagay naman sa article yan kung babasahin mo
Optional ba to or required?
Hindi ka makaka-withdraw kapag walang tier1 or tier2 verification. Nakalagay naman sa article yan kung babasahin mo
So itong IDEX hindi na decentralized may KYC na e. Optional ba to or required? Tingin ko preparation lang to nila gaya ng sabi mo about sa regulation.
Pero itong Tier 1 parang ang dali e bypass kahit gawa2 lang na details, syempre yung iba takot mag bigay ng details for security and privacy.
Pero yung nalilist dito sa IDEX halos mga sh*tcoins
Pero itong Tier 1 parang ang dali e bypass kahit gawa2 lang na details, syempre yung iba takot mag bigay ng details for security and privacy.
Pero yung nalilist dito sa IDEX halos mga sh*tcoins
Kahapon, nilabas na nung IDEX yung detalye tungkol sa KYC verification nila. Mukhang mas malala pa sila sa ibang centralized exchanges na 2 BTC ang limit sa mga tier 1 verification.
(link to the article attached on the image)
Sa unang tingin mukhang para nga hindi sila maipit sa regulation pero nung nabasa ko yung reply nila sa isang comment, mukhang pera-pera din pala.
Siguro kailangan na din nila magpalit ng pangalan from IDEX to ICEX.
(link to the article attached on the image)
Sa unang tingin mukhang para nga hindi sila maipit sa regulation pero nung nabasa ko yung reply nila sa isang comment, mukhang pera-pera din pala.
Quote
These changes will bring many benefits in the short term. We frequently hear from large crypto funds who want to trade on IDEX but cannot due to the lack of KYC. These changes will allow them to participate, creating more liquid markets that benefit all customers.
Siguro kailangan na din nila magpalit ng pangalan from IDEX to ICEX.
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